KYB (Know Your Business) is the business verification process required to use Kolo Business. It confirms your company's legal registration, ownership structure, and the identity of your company director and Ultimate Beneficial Owners (UBOs).
Company type | Documents | Typical timeline |
All companies | A few hours to 1–3 business days | |
Regulated companies (VASP, Fintech, Telecom) | Required documents + additional documents | 5–10 business days |
Required Documents
All companies must provide:
Document | Details |
Articles of Incorporation | Or equivalent statutory documents (bylaws, memorandum of association) |
Shareholder Registry | Full names of all shareholders, ownership percentages, and dates |
Application Form | Completed via the business dashboard |
Director verification | Identity verification via our verification provider for the company director |
UBO verification | Identity verification for all Ultimate Beneficial Owners (25%+ ownership) |
We may request identity verification for all UBOs. Verification typically includes:
Proof of identity
Selfie / liveness check
Proof of address
AML screening
Additional Documents for Regulated Companies (VASP, Fintech, Telecom)
If your company operates in a regulated industry, additional documents are required:
Document | Details |
Business License | Copy of your regulatory license |
AML Policy | Signed anti-money laundering policy document |
MLRO CV | CV of your Money Laundering Reporting Officer |
Accepted Identity Documents
Directors and UBOs must provide one of the following:
Passport
National ID card (physical/plastic)
Driver’s license
Visa (must be physical/plastic)
Digital-only documents (for example, digital residence permits or paper certificates without a photo) may not be accepted. The document must be a physical card with a photo, but you can upload a photo from your camera roll.
Document acceptance depends on the verification provider and compliance checks. In practice, directors and UBOs can often complete KYB using passports issued outside the company’s country of incorporation (for example, Brazil international passports for a UK company). If you are unsure whether a specific document will be accepted, contact Support before starting verification.
KYB Verification Process
The admin initiates KYB from the business dashboard.
Verification links are generated for the director and all applicable UBOs and sent via email.
Each person completes identity verification (ID + selfie) with our verification provider and uploads proof of address when requested.
Documents are reviewed by the compliance team.
After verification is complete, Kolo Business becomes available once the business dashboard is fully set up.
After you upload all documents and everyone completes verification, let your account manager know. Setup is typically completed the same day once everything is ready.
Typical Timeline
Case | Timeline |
Same-day completion (if all participants complete verification promptly) | A few hours |
Standard processing | 1–3 business days |
Regulated companies (additional review) | 5–10 business days |
Special Cases
Multiple subsidiaries: each subsidiary needs separate KYB. Shared UBOs may be able to reuse verification.
Director change: if the director changes after KYB approval, the new director must complete identity verification. Contact Support or your account manager to request a new verification link.
Non-standard ownership structures: trusts, foundations, and multi-layered structures may require additional documents.
Need Help?
If you are unsure which documents are required for your company, contact Support before submitting your KYB application.